President Donald Trump met with executives from prediction markets and crypto companies on August 19. Polymarket, Kalshi, Coinbase and Robinhood attended, alongside Commodity Futures Trading Commission chair Michael Selig and Securities and Exchange Commission chair Paul Atkins.
The meeting came ahead of the CFTC's first Advisory Committee on Innovation session, which brings together representatives from gambling, prediction markets, crypto and finance to discuss regulation.
Prediction markets under pressure from casinos
Prediction markets are growing fast but are not regulated as gambling in the US: users bet against each other with no house. Casinos and bookmakers argue this gives the platforms an unfair advantage, letting them dodge strict oversight.
Polymarket and Kalshi are the sector's largest platforms. According to Dune, their combined volume over the past month exceeded $14.3 billion.
Clarity Act stalled in the Senate
Meanwhile, the crypto industry is pushing the Clarity Act through the Senate, a bill on market structure. Some lawmakers are blocking a vote, citing conflict of interest: Trump and his family hold crypto assets. Democrats are demanding the president exit crypto entirely or they will not vote.
